Biotech company to add over 400 jobs with build of new $700M facility in Holly Springs

HOLLY SPRINGS, N.C. (WTVD) -- Genentech, a leading biotechnology company based in San Francisco, is set to build a $700 million manufacturing plant in Wake County, creating over 400 new jobs, Governor Josh Stein announced Monday.

"The delegation from North Carolina rose to the top for several reasons. First and foremost, we believe we can hire many skilled people to run this facility, as well as the skilled and specialized construction it will take to build this manufacturing facility. We see the value of being close to academic research institutions and some of the best health care institutions in the world," said Genentech CEO Ashley Magargee.

"Our workforce partners that are creating these programs, entertaining high school students and bringing them through and showing them the possibilities there are always happening. And I think as more awareness comes to parents and families and students, I think that will raise the interest level," said Dr. Mary Beth Thomas, Senior Vice President of Science and Business Development at NC Biotechnology Center.

The new 700,000-square-foot facility in Holly Springs will support Genentech's current and future product portfolio, helping the company meet the growing demand for its medicines.

"Announcements like this take a very, very long time to happen, and I think the success that we have stems back many, many years. But I think the active participation for this one coming to today, it started in the fall timeframe and then really accelerated in recent months and weeks," explained Thomas.

Genentech, known for developing treatments for serious and life-threatening diseases over the past 40 years, chose North Carolina for its strong biotechnology workforce.

"This will be our first Eastern Seaboard manufacturing facility, and it'll be our first new manufacturing facility globally in nearly two decades," said Magargee.

"World-class companies like Genentech recognize that North Carolina is a leading state for biotechnology," Stein said. "These companies know that our life science workforce is ready to help them deliver their cutting-edge medicines to the world. We are proud to welcome Genentech to North Carolina."

Genentech will join Fujifilm Diosynth, Amgen, and CSL Seqirus as life sciences companies to open in Holly Springs.

SEE ALSO | Biotech giant Amgen celebrates opening of new campus in Holly Springs

"North Carolina has been excellent at investing in our workforce development and training programs, (plus the) community college system that stretches all across the state as well as our university system," said Thomas.

"There's that old adage that if you build it, they will come," added Holly Springs May Pro Tem Dan Berry.

According to the US Census, the town's population has nearly doubled since 2010, growing from less than 25,000 residents to an estimated 46,000 as of July 2023.

"It's going to be located in a newer style business park on the far western part of our town. That business park will contain housing units that will contain restaurants, that will contain things to do for the people that work and fill these jobs. All of those will have a trickle-down effect," said Berry.

He acknowledged considerations regarding the pace of growth, highlighting the existing infrastructure around the site.

"It's a delicate balance. And at the end of the day, what's in mind for me in my role is just thinking about our residents and how these projects impact them. That's helping pay for things like parks, that's helping pay for things like the roads that we maintain for our police and for our firefighters and the services that we have to provide to make these things happen," Berry explained.

According to a press release, the average salary for these new positions will be $119,833, significantly higher than the county's average wage of $76,643. The project is expected to bring an annual payroll impact of over $50 million to the community.

The project was made possible by a Job Development Investment Grant (JDIG) approved by the state's Economic Investment Committee.

According to state officials, over the 12-year term of the grant, the project is expected to boost the state's economy by more than $3 billion. It's "projected return on investment of public dollars is 230 per cent, meaning for every dollar of potential cost, the state receives $3.30 in state revenue."

"Our momentum in biotech is off the charts as these new jobs and new investment come to Holly Springs," said N.C. Senator Lisa Grafstein. "Genentech is a renowned brand in the industry, and we welcome the company to our growing family of life science partners."

"840 life sciences companies do business in North Carolina, and an additional 2,500 companies serve the industry and its unique needs. More than 210,000 jobs are tied to this ecosystem," said Stein.

SEE ALSO | 400 new jobs coming to Wilson County with creation of pharmaceutical plant